An Important Advocacy Message / Call to Action
from NAHB Chairman Joe Robson:
With members of Congress now taking a closer look at extending and possibly expanding the $8,000 first-time home buyer tax credit, NAHB is seeking to build on this momentum by running two separate ads this week targeted at Capitol Hill and the general public.
Enclosed are links to the two ads to keep you updated on our activities. The first full-page ad is a joint effort with the National Association of Realtors that will run in the front section of USA Today and the Wall Street Journal on Wednesday, Oct. 21. The message is simple and straightforward: Extending and expanding the home buyer tax credit will create nearly 350,000 jobs, inject $28 billion into the U.S. economy and generate $12 billion in additional tax revenue. It’s time for Congress to help put America back to work.
The second full-page ad, jointly sponsored by NAHB, NAR and the Mortgage Bankers Association, includes a similar theme that calls for the home buyer tax credit to be extended to keep housing and the economy moving forward. The ad has been running for several weeks in the following “Inside-the-Beltway” publications geared specifically toward members of Congress: CQ Weekly, Roll Call, The Hill, Politico, the New Republic, the National Journal and the National Review.
We are also taking our message directly to Congress. NAHB Chief Economist David Crowe testified upon request today before the Senate Banking Committee on the need for Congress to act quickly to extend the home buyer tax credit for another year and make it available to all buyers of a principal residence in order to create jobs and boost the economy. Crowe warned lawmakers that the approaching expiration of the $8,000 home buyer tax credit on Nov. 30, combined with the massive hurdles that builders face in obtaining construction financing and appropriate appraisals on new homes, could derail the fragile recovery in housing just as it is starting to take shape.
Further, NAHB this week stepped up its “Revive Housing, Restore America” grassroots campaign. An e-mail has been sent out to all members of the NAHB federation asking for a grassroots push on the extension and expansion of the home buyer tax credit. Members are encouraged to log on to www.capitolconnect.com/builderlink to send a letter to their individual lawmakers or call 1-866-924-6242 (NAHB) and urge their senators and representative to extend and expand the home buyer tax credit to create jobs, reduce foreclosures and excess housing inventories, and to push housing and the economy on a glide path to recovery.
As leaders of our association, I strongly encourage you to take part in this effort. Together, we can make a difference.